PS-B1 is fermented products cultivated from soybean milk using indigenous lactic acid bacteria which are of human intestinal-bacteria origin. We have studied the bioactivities of PS-B1 in order to understand its ability as a “biogenic food”. In this study, we found: (1) that PS-B1 inhibited the growth of several cancer cells; (2) that PS-B1 protected liver from the damage induced by alcohol, virus, and drugs; and (3) that PS-B1 improved the lipid metabolism.